Watsco Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	7,241	7,239	7,618	7,284	7,274	6,280
Revenue Growth (YoY)	-4.52%	-4.98%	4.59%	0.13%	15.83%	24.24%
Cost of Revenue	5,213	5,209	5,574	5,292	5,244	4,613
Gross Profit	2,028	2,030	2,045	1,992	2,030	1,668
Selling, General & Admin	1,338	1,338	1,293	1,224	1,221	1,058
Other Operating Expenses	-28.1	-27.77	-30.5	-26.18	-22.67	-19.3
Total Operating Expenses	1,310	1,310	1,263	1,197	1,199	1,039
Operating Income	718.34	720.35	781.78	794.81	831.58	628.53
Interest Income	18.37	-	-	-	-	-
Interest Expense	-	17.33	20.87	-4.92	-2.17	-1
Total Non-Operating Income (Expense)	18.37	17.33	20.87	-4.92	-2.17	-1
Pretax Income	736.71	737.68	802.64	789.89	829.41	627.53
Provision for Income Taxes	150.73	150.09	166.9	155.75	125.72	128.8
Net Income	496.01	496.99	536.29	536.34	601.17	418.95
Minority Interest in Earnings	89.98	90.59	99.45	97.8	102.53	79.79
Net Income to Common	496.01	496.99	536.29	536.34	601.17	418.95
Net Income Growth	-6.30%	-7.33%	-0.01%	-10.78%	43.49%	55.41%
Shares Outstanding (Basic)	38	38	37	36	36	35
Shares Outstanding (Diluted)	38	38	38	37	36	35
Shares Change (YoY)	0.54%	1.04%	2.68%	2.38%	0.73%	0.78%
EPS (Basic)	12.06	12.27	13.34	13.72	15.46	10.83
EPS (Diluted)	12.05	12.25	13.30	13.67	15.41	10.78
EPS Growth	-7.38%	-7.90%	-2.71%	-11.29%	42.95%	53.78%
Shares Outstanding	40.6	42.38	44.44	44.27	43.62	43.67
Free Cash Flow	694.38	535.06	743.01	526.48	536.31	324.1
Free Cash Flow Growth	29.78%	-27.99%	41.13%	-1.83%	65.48%	-37.43%
Free Cash Flow Per Share	18.31	14.12	19.81	14.41	15.03	9.15
Dividends Per Share	12.000	11.700	10.550	9.800	8.550	7.625
Dividend Growth	2.56%	10.90%	7.65%	14.62%	12.13%	10.11%
Gross Margin	28.01%	28.05%	26.84%	27.35%	27.91%	26.55%
Operating Margin	9.92%	9.95%	10.26%	10.91%	11.43%	10.01%
Profit Margin	8.09%	8.12%	8.34%	8.71%	9.67%	7.94%
FCF Margin	9.59%	7.39%	9.75%	7.23%	7.37%	5.16%
EBITDA	762.34	764.1	822.6	829.9	863.26	656.66
EBITDA Margin	10.53%	10.55%	10.80%	11.39%	11.87%	10.46%
EBIT	718.34	720.35	781.78	794.81	831.58	628.53
EBIT Margin	9.92%	9.95%	10.26%	10.91%	11.43%	10.01%
Effective Tax Rate	20.46%	20.35%	20.79%	19.72%	15.16%	20.52%

Updated May 8, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q